Athens, July 1 (IANS) The central Bank of Greece (BoG) has announced a downwards revision of its forecast for this year’s GDP growth, from 3.8 per cent announced in April to 3.2 per cent, the Greek national news agency AMNA has reported.
Economic growth could turn out higher than the baseline projection of 3.2 per cent, if the strong performance of the first quarter continues in the next quarters of this year, according to BoG’s monetary policy report 2021-2022.
However, the risks are tilted to the downside. These relate to a further escalation of geopolitical instability, a worsening international economic climate, disruptions to energy supply and a consequent further increase in energy prices, Xinhua news agency reported.
For 2023, BoG has forecast 4.1 per cent growth, provided that the geopolitical crisis abates by the end of 2022, and energy prices decline.